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Quick update

Have to do this from my phone.

1.) two new trades enered on Etoro:

A.) long usdjpy. I did his as i see the yeb as expensive at these levels and expect the pair to raise as either the boj adds stimulus this week or prior to their meeting people close shorts to avoid exposure.

B.) Short eurgbp. Pound is too weak atm. I even believe inflation is better than expected (true that oil has dropped, but gbpusd has as well and the uk pays dollars for oil). Employment is excellent as well and wage pressures will surface soon. Euro on the other hand needs more stimulus. I set this refunding trade to to at 0.73 which hopefully should result in a 100% return over the next few weeks.

I remain convinced that the sterling will surprise people this year and be the outperformer, much like i touted the dollar to be all of last year. Coming against the same initial barriers and ridicule, hopefully with the same end result. Being right.

Have a nice day everyone, its freezing here,

Mohammed

26 Comments

  1. Thanks for the early update!

    The two new trades seem sound. One potential danger is that our exposure to the GBP is really big now. Keeping my fingers crossed for Carnage Carney to behave today. Unfortunately, I fear that there will be quite some risk aversion this week. Hopefully, we will manage the resulting drawdown through this week 😉

    Too bad the USDCAD got SL’ed. It really was rallying last night due to the drop in oil prices. Can’t complain about the profit though 😛

    Where are you in Europe to experience such cold? Europe is having one of the warmest winters ever 😛

    1. I actually wanted to open another one. Etoro would not let me and kept giving errors. Was talking to Michael and tania about it yesterday on twitter.
      Am prsently in Sweden. Here for 4 days for work.

  2. Hey Mo

    I’ve been copying you for quite some time now and learnt a lot. I don’t understand what you meant though by you’ve set the refunding trade to 0.73. If it is possible to enlighten me it’d be much appreciated or if any other member could tell me what it means as I can’t find it out on the internet.

    1. set the TP for 0.73. Means our eurgbp sell position will close at 100% profit if the pair reaches 0.73. The trade is called refunding because rather than being charged to keep it open, we actually earn refunds from it being open. Hope this helps Sam.

  3. Hi Mo are you shutting etoro for good? I am on hotforex but just wondered if you were keeping etoro going too? Thanks for all your hard work x

    1. Nope will shut it down as soon as i close all my positions. Will focus on this community alone. Got big plans for this site as soon as i have more free time.

        1. no more talks whatsoever. Best thing i ever did was stop posting there. No more trades once all are closed. At the moment I add a few now and then if i see an opportunity.

          1. Damn, i never stopped copying/trusting you. Now i have find another person like you on eToro :(. I hoped you would keep trading but not posting on eToro. I hope you reconcider your decision though (leaving a lot of ppl in the dark).

          2. To be fair they arent really in the dark if i post and explain my trade ideas here. I think it acually could be better for them as they can then decide risk, size etc themselves.

      1. I’m on hotforex but don’t really understand it I go into trades and can see the trades you have open but does the account just get updated once a day at the end of the day? As the equity never quite adds up if you know what I mean

  4. Hi Mo! Great day today! I took your advice and placed an order for USDJPY 500.000 units at 117,80. It bit and is now looking very good!

    On another note I have tried to open an coorporate account in HF and it is taking time. Are you still committed to closing for more copiers there at the end of january. Only reason I open up at HF is to copy you. I should not be left to myself:p

    Cheers Mo!

    1. Gratz on the trade! Make sure you move the SL to respectable green just in case. Will close it just with a password. But will open ot for readers of this blog when they want. Once again, gratz on the usdjpy long.

  5. Nice trades on etoro mo. The account is starting to look handsome again. Nice work. Still hoping you might just make your account ‘private’ there so that we can remain with you….

  6. Hi Mo! Hope you got a warm coat for your trip to Sweden! Northern Europe can realy be cold!
    Just closed most of my trades and Investments in traders on eToro and transfered it. Will join the ride on HF.
    Have a nice evening,
    Thomas

  7. Sad to hear your ending etoro trades, I am copying you and a novice trader, really wanted to keep copying, what to do ?
    Have a nice evening , Leon from Norway 🙂

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